Adam Frankel Sells 3,000 Shares of Chime Financial (NASDAQ:CHYM) Stock

Chime Financial, Inc. (NASDAQ:CHYM) General Counsel Adam Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chime Financial Stock Down 2.6%

Shares of NASDAQ:CHYM opened at $16.60 on Thursday. The company has a market cap of $6.32 billion and a P/E ratio of -2.23. Chime Financial, Inc. has a 52 week low of $15.88 and a 52 week high of $38.67. The business has a fifty day simple moving average of $19.42 and a 200-day simple moving average of $21.85.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm had revenue of $647.39 million during the quarter. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Sell-side analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 12th. UBS Group boosted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. BMO Capital Markets began coverage on Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price target for the company. Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company boosted their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in Chime Financial in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new position in Chime Financial in the second quarter valued at about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Chime Financial in the second quarter valued at about $40,000.

About Chime Financial

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.